Sandalwood Extract Market: Overview
Sandalwood is a class of woods from trees in the family Santalum. The forest is weighty, yellow, and fine-grained, and in contrast to numerous other sweet-smelling sorts of wood, they hold their scent for quite a long time. Sandalwood oil is extracted from the forest for use. Sandalwood is the second most costly wood on the planet, after African Blackwood. Both the wood and the oil produce an unmistakable aroma that has been profoundly esteemed for quite a long time. These benefits are likely to augment the demand for sandalwood extract, thereby boosting the growth of this market in the coming years.
The global sandalwood extract market is categorized based on type, application, and region. In terms of type, the market is bifurcated into santol, and sandalwood oil. Based on classification by application, the market is grouped into pharmaceuticals, aromatherapy, cosmetics, and perfume.
The report offers a comprehensive overview of the global sandalwood extract market primarily focusing on the growth drivers, trends, and opportunities. In addition to this, the report discusses the impact that the novel COVID19 pandemic on this market. Besides this, the report also throws light on the table of segmentation and mentions the names of the key segment earning the highest revenue. Key players and their prime growth strategies are also mentioned in this report. For more information on the report, log on to the company website.
Sandalwood Extracts Market: Industry Developments
- A new product line at Whipper Snapper Distillery was launched in October 2019 by the Sandalwood Nut Company.
- Isobionics and BASF Nutrition & Health declared their joint venture for the launch of their first product called Isobionics
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Sandalwood Extracts Market: Drivers and Restraints
There is an increasing demand for sandalwood extracts especially from the beauty and cosmetic products industry on account of the various medicinal and herbal properties of sandalwood. Besides this, sandalwood extracts also find significant applications in Ayurvedic medicine. sandalwood oil is accepted to be gainful in treating both physical and mental issues, including tension, bronchitis, loose bowels, exhaustion, fever, gallbladder issues, hypertension, acid reflux, a sleeping disorder, liver issues, low moxie, sore throat, and urinary plot contaminations. In customary Chinese medication, Tan Xiang is regularly ready as a decoction and utilized for stomach torment because of cold stagnation, helpless craving, hiccups, and chest pain. The increasing demand from various end-users such as aromatherapy, pharmaceuticals, perfumes, and other cosmetics is likely to aid in the expansion of the overall market in the coming years.
Sandalwood Extracts Market: Geographical Insights
Region-wise, the global sandalwood extracts market is dominated by the Asia Pacific on account of the growing inclination towards cosmetic products with natural ingredients and the increasing popularity of Ayurveda. Besides this, the market in North America will gain significant revenue in the coming years on account of the increasing adoption of pharmaceutical products with organic content and the strong presence of the beauty and cosmetic industry.
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